as the economy improves, they will be competing with other obstacles, hedging the improving economy based on their portfolio that they have now. >> cast your eyes into the future. we are being told that the volker rule will not be enforced for another year. the president announced it back in january of 2010 and banks have been responding since then, suspending their prop trading desks. in 2015 how different are things going to be from the way they 2009?n >> first and foremost, metrics will matter. that is the only way that regulators are going to be able to distinguish prop trading from market making to tying hedging to specific and identifiable risks. banks are already comfortable measuring risks on a daily basis , now they are really going to have to step up their measurements of inventory, because that matters in determining market making from prop trading and turnover of inventory as well. these metrics will determine how forcibly the enforcement will follow. hard to findo be baselines right now, there is still an element of prop trading in all banking activities, so finding a baselin